So, the Big Three's current line is...

[Okla-homey]

They can't file Ch. 11 because they say no consumer would buy a car from a manufacturer in bankruptcy, even if it were the re-org flavor vice the Ch 7. liquidation flavor. They maintain that even establishing a team to look at Ch.11 seriously would leak to the public and doom them to bolivia.

I think they're grasping at straws. No one is buying their rolling crapboxes now. A Ch.11 re-org. that results in better value cars might just turns things around.

But what do I know? I'm only a country lawyer.

Oh, BTW, will the last person who leaves Michigan turn out the lights? And StayTFO of Oklahoma. We're a red state and we don't need your evile union ways to ruin our thang.

[Sooner_Havok]

I heard the Chinese are interested in buying GM and Chrysler.

[Tulsa_Fireman]

RIIIIIIIIIIISE, ZOMBIE LEE IACOCCA

[Veritas]

The players: Honda, Ford
The contest: Switching a production line to produce a different vehicle

Honda: 5 minutes.

Ford: 13 months, $75 million.

http://online.wsj.com/article/SB122211673953564349.html

[Stoop Dawg]

They can't file Ch. 11 because they say no consumer would buy a car from a manufacturer in bankruptcy, even if it were the re-org flavor vice the Ch 7. liquidation flavor. They maintain that even establishing a team to look at Ch.11 seriously would leak to the public and doom them to bolivia.

But evidently having your CEO sit in front of Congress and tell them that you'll run out of money in a few weeks is just peachy.

Go figure.

[Sooner_Havok]

But evidently having your CEO sit in front of Congress and tell them that you'll run out of money in a few weeks is just peachy.

Go figure.

So long as he flew there on his private luxury jet :D

[badger]

So long as he flew there on his private luxury jet :D

Separate from the other Big 3 CEOs, who also flew out on separate private jets.

Car companies just can't stop making their carbon footprint on us, can they? :D

[TheHumanAlphabet]

2 questions, I guess...

1. Are GM, Ford and Chrysler strategic assets that we need up and running to make things (a la war footing)?

2. Why wouldn't The Big 3 not want to file Ch. 11, couldn't they invalidate the labor contracts then and re-structure the pay scales, medical company pays and retirement to be more in-line with other industry leaders?

I say BS on the no one will buy arguement. People still fly UA and NW. So if you have a product that people want, they will overlook Ch.11. They bet way to much on SUVs and such and want a bail out.

[Frozen Sooner]

1. Yes
2. It would also invalidate all of their warranties. How many Daewoos you see on the road these days?

I'm not particularly for a gigantic gift to the auto industry, though.

[badger]

There are issues in Detroit that needed an event like this to clear up. Michigan will go under in the process, unfortunately. However, they had so many years of prosperity that they should have planned for the days when the auto would go under, much like Oklahoma needed to plan for the days when the oil money wouldn't be free flowing everywhere.

Michigan collectively - the companies, the unions, the workers, the government - has done this to themselves. I hate to sound selfish, but every state has its own issues going on with this economy and this might be one of those situations where they need to help themselves before others can.

[royalfan5]

2 questions, I guess...

1. Are GM, Ford and Chrysler strategic assets that we need up and running to make things (a la war footing)?

2. Why wouldn't The Big 3 not want to file Ch. 11, couldn't they invalidate the labor contracts then and re-structure the pay scales, medical company pays and retirement to be more in-line with other industry leaders?

I say BS on the no one will buy arguement. People still fly UA and NW. So if you have a product that people want, they will overlook Ch.11. They bet way to much on SUVs and such and want a bail out.

Given that you are stuck with a car for a much longer time than an airline flight. Especially given that cars tend to require parts and service, and residual value is key factor in many people's purchasing decisions. I don't necessarily thing that is the most valid comparison. That and what people want a Detroit product so much they are willing to overlook the potential downside in numbers great enough to make a sales difference.

[Boarder]

How many Daewoos you see on the road these days?

Wouldn't you have to sell some in the first place (while the company was alive) to have them on the road?

[Frozen Sooner]

Wouldn't you have to sell some in the first place (while the company was alive) to have them on the road?

They were selling OK there for a while-but the point is you should still see SOME on the road. Nobody will buy them. Nobody will finance them. You can't even buy an aftermarket warranty on one.

[royalfan5]

Wouldn't you have to sell some in the first place (while the company was alive) to have them on the road?

Somebody in my apartment complex has one. Also, every Aveo is essentially a Daewoo. So I guess you could count that.

[tbl]

Is there any way the government can mandate the complete dissolution of the AWU? If they were to do that, I'd be all for the bailout. If the unions are gone, the B3 not only survive but thrive.

[royalfan5]

Is there any way the government can mandate the complete dissolution of the AWU? If they were to do that, I'd be all for the bailout. If the unions are gone, the B3 not only survive but thrive.

They should also void all the dealership contracts too. There are far too many dealers and brands coming out of Detroit. Spreading resources too thin is a good part of how they made the cars that turned people turned away from Detroit.